CUSIP NO. 577776107              SCHEDULE 13G               PAGE 1 OF 11 PAGES







===============================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                                (Amendment No.)*


                                 Maxygen, Inc.
-------------------------------------------------------------------------------
                                (Name of Issuer)


                        Common Stock, $0.0001 par value
-------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   577776107
-------------------------------------------------------------------------------
                                 (CUSIP Number)


                                 June 25, 2013
-------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of This Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
                             [ ] Rule 13d-1(b)
                             [X] Rule 13d-1(c)
                             [ ] Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent   amendment   containing   information  which  would  alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be  subject  to all other  provisions  of the Act  (however, see the
Notes).

Information regarding beneficial ownership is as of July 3, 2013.


CUSIP NO. 577776107              SCHEDULE 13G               PAGE 2 OF 11 PAGES


--------------------------------------------------------------------------------
1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  WEISS ASSET MANAGEMENT LP
--------------------------------------------------------------------------------
2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                 (B) [ ]
--------------------------------------------------------------------------------
3.                SEC USE ONLY


--------------------------------------------------------------------------------
4.                CITIZENSHIP OR PLACE OF ORGANIZATION

                  DELAWARE
--------------------------------------------------------------------------------
                               5.     SOLE VOTING POWER

                                      0
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           1,878,759
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             0
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      1,878,759
--------------------------------------------------------------------------------
9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  1,878,759
--------------------------------------------------------------------------------
10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
--------------------------------------------------------------------------------
11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  6.76%
--------------------------------------------------------------------------------
12.               TYPE OF REPORTING PERSON*

                  IA - Investment Adviser


CUSIP NO. 577776107              SCHEDULE 13G               PAGE 3 OF 11 PAGES


--------------------------------------------------------------------------------
1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  BIP GP LLC
--------------------------------------------------------------------------------
2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                 (B) [ ]
--------------------------------------------------------------------------------
3.                SEC USE ONLY


--------------------------------------------------------------------------------
4.                CITIZENSHIP OR PLACE OF ORGANIZATION

                  DELAWARE
--------------------------------------------------------------------------------
                               5.     SOLE VOTING POWER

                                      0
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           1,277,554
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             0
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      1,277,554
--------------------------------------------------------------------------------
9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  1,277,554
--------------------------------------------------------------------------------
10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
--------------------------------------------------------------------------------
11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  4.60%
--------------------------------------------------------------------------------
12.               TYPE OF REPORTING PERSON*

                  00 - Limited Liability Company


CUSIP NO. 577776107              SCHEDULE 13G               PAGE 4 OF 11 PAGES


--------------------------------------------------------------------------------
1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  WAM GP LLC
--------------------------------------------------------------------------------
2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                 (B) [ ]
--------------------------------------------------------------------------------
3.                SEC USE ONLY


--------------------------------------------------------------------------------
4.                CITIZENSHIP OR PLACE OF ORGANIZATION

                  DELAWARE
--------------------------------------------------------------------------------
                               5.     SOLE VOTING POWER

                                      0
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           1,878,759
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             0
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      1,878,759
--------------------------------------------------------------------------------
9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  1,878,759
--------------------------------------------------------------------------------
10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
--------------------------------------------------------------------------------
11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  6.76%
--------------------------------------------------------------------------------
12.               TYPE OF REPORTING PERSON*

                  00 - Limited Liability Company


CUSIP NO. 577776107              SCHEDULE 13G               PAGE 5 OF 11 PAGES


--------------------------------------------------------------------------------
1.                NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
                  NO. OF ABOVE PERSON

                  ANDREW M. WEISS, PH.D.
--------------------------------------------------------------------------------
2.                CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*   (A) [ ]
                  (B) [ ]
--------------------------------------------------------------------------------
3.                SEC USE ONLY


--------------------------------------------------------------------------------
4.                CITIZENSHIP OR PLACE OF ORGANIZATION

                  USA
--------------------------------------------------------------------------------
                               5.     SOLE VOTING POWER

                                      0
   NUMBER OF                  --------------------------------------------------
    SHARES                     6.     SHARED VOTING POWER
 BENEFICIALLY
   OWNED BY                           1,878,759
    EACH                      --------------------------------------------------
  REPORTING                    7.     SOLE DISPOSITIVE POWER
   PERSON
    WITH:                             0
                              --------------------------------------------------
                               8.     SHARED DISPOSITIVE POWER

                                      1,878,759
--------------------------------------------------------------------------------
9.                AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                  1,878,759
--------------------------------------------------------------------------------
10.               CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
                  CERTAIN SHARES*                                          [ ]
--------------------------------------------------------------------------------
11.               PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                  6.76%
--------------------------------------------------------------------------------
12.               TYPE OF REPORTING PERSON*

                  IN - Individual


CUSIP NO. 577776107              SCHEDULE 13G               PAGE 6 OF 11 PAGES


ITEM 1.

      (a) Name of Issuer:  Maxygen, Inc.
                         ------------------------------------------------

      (b) Address of Issuer's Principal Executive Offices:
                          411 Borel Avenue, Suite 616
                          San Mateo, California 94402
                         ------------------------------------------------
ITEM 2.

      (a) and (c): Name and Citizenship of Persons Filing:

       (i)   BIP GP LLC, a Delaware limited liability company ("BIP GP").
       (ii)  WAM GP LLC, a Delaware limited liability company ("WAM GP")
       (iii) Weiss Asset Management LP, a Delaware limited partnership ("Weiss
            Asset Management").
       (iv)  Andrew M. Weiss, Ph.D., a United States citizen ("Andrew Weiss").

      (b):  Address of Principal Business Office:

      BIP GP, WAM GP, Weiss Asset Management, and Andrew Weiss have a business
      address of 222 Berkeley St., 16th Floor, Boston, Massachusetts 02116

      (d) Title of Class of Securities: Common Stock, $0.0001 par value
                                 -------------------------------------
      (e) CUSIP Number: 577776107
                       ------------------


ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK
        WHETHER THE PERSON FILING IS A:

     (a)  [ ] Broker or Dealer registered under Section 15 of the Act
              (15 U.S.C. 78o).
     (b)  [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
     (c)  [ ] Insurance Company as defined in section 3(a)(19) of the Act
              (15 U.S.C. 78c).
     (d)  [ ] Investment  Company  registered  under section 8 of the Investment
              Company Act of 1940 (15 U.S.C. 80a-8).
     (e)  [ ] Investment  Adviser registered under section 203 of the Investment
              Advisers Act or under the laws of any State
     (f)  [ ] Employee  Benefit  Plan,  Pension  fund  which is  subject to the
              provisions of the Employee  Retirement  Income Security Act of
              1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F)
     (g)  [ ] A Parent Holding Company  or  control  person, in  accordance with
              Section 240.13d-1(b)(ii)(G)(Note: See Item 7)
     (h)  [ ] A Savings  Association  as defined in Section  3(b) of the Federal
              Deposit Insurance Act (12 U.S.C. 1813)
     (i)  [ ] A  Church  Plan  that  is  excluded  from  the  definition  of  an
              investment  company under Section  3(c)(14) of the Investment
              Company Act of 1940 (15 U.S.C. 80a-3)
     (j)  [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)


CUSIP NO. 577776107              SCHEDULE 13G               PAGE 7 OF 11 PAGES


ITEM 4.   OWNERSHIP

      BIP GP*
      (a) Amount Beneficially Owned:    1,277,554
                                     -------------------------------------------
      (b) Percent of Class:     4.60%
                            ----------------------------------------------------
      (c) Number of shares as to which such person has:

         (i)   sole power to vote or to direct the vote:    0
                                                         -----------------------
         (ii)  shared power to vote or to direct the vote:  1,277,554
                                                           ---------------------
         (iii) sole power to dispose or to direct the disposition of:  0
                                                                      ----------
         (iv) shared power to dispose or to direct the disposition of: 1,277,554
                                                                       ---------



      WAM GP*
      (a) Amount Beneficially Owned:    1,878,759
                                     -------------------------------------------
      (b) Percent of Class:     6.76%
                            ----------------------------------------------------
      (c) Number of shares as to which such person has:

         (i)   sole power to vote or to direct the vote:    0
                                                         -----------------------
         (ii)  shared power to vote or to direct the vote:  1,878,759
                                                           ---------------------
         (iii) sole power to dispose or to direct the disposition of:  0
                                                                      ----------
         (iv) shared power to dispose or to direct the disposition of: 1,878,759
                                                                       ---------



 WEISS ASSET MANAGEMENT*
      (a) Amount Beneficially Owned:    1,878,759
                                     -------------------------------------------
      (b) Percent of Class:     6.76%
                            ----------------------------------------------------
      (c) Number of shares as to which such person has:

         (i)   sole power to vote or to direct the vote:   0
                                                         -----------------------
         (ii)  shared power to vote or to direct the vote:  1,878,759
                                                           ---------------------
         (iii) sole power to dispose or to direct the disposition of:  0
                                                                      ----------
         (iv) shared power to dispose or to direct the disposition of: 1,878,759
                                                                       ---------


CUSIP NO. 577776107              SCHEDULE 13G               PAGE 8 OF 11 PAGES



ANDREW M. WEISS, PH.D.*
      (a) Amount Beneficially Owned:    1,878,759
                                     -------------------------------------------
      (b) Percent of Class:     6.76%
                            ----------------------------------------------------
      (c) Number of shares as to which such person has:

         (i)  sole power to vote or to direct the vote:    0
                                                        ------------------------
         (ii) shared power to vote or to direct the vote:  1,878,759
                                                        -----------------------
         (iii) sole power to dispose or to direct the disposition of:   0
                                                                     ----------
         (iv) shared power to dispose or to direct the disposition of: 1,878,759
                                                                      ----------

-----------------------
* Shares reported for BIP GP include shares beneficially owned by a private
investment partnership (the "Partnership") of which BIP GP is the sole general
partner. Weiss Asset Management is the sole investment manager to the
Partnership and a private investment company (the "Company").  WAM GP is the
sole general partner of Weiss Asset Management.  Andrew Weiss is the managing
member of WAM GP and BIP GP.  Shares reported for WAM GP, Andrew Weiss and Weiss
Asset Management include shares beneficially owned by the Partnership (and
reported above for BIP GP) and the Company.

Each of BIP GP, WAM GP, Weiss Asset Management and Andrew Weiss disclaims
beneficial ownership of the shares reported herein as beneficially owned by each
except to the extent of their respective pecuniary interest therein. The percent
of class computations are based on 27,792,520 shares of Common Stock, $0.0001
par value issued and outstanding as of May 31, 2013, as reported in the 8-K
filed with the SEC on June 3, 2013.



ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

         If this statement is being filed to report the fact that as of the date
hereof the reporting  person has ceased to be the beneficial  owner of more than
five percent of the class of securities, check the following [].


ITEM 6.   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

      Not Applicable


ITEM 7.  IDENTIFICATION  AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
         SECURITY  BEING  REPORTED  ON BY  THE PARENT HOLDING COMPANY OR CONTROL
         PERSON

      Not Applicable


CUSIP NO. 577776107              SCHEDULE 13G               PAGE 9 OF 11 PAGES




ITEM 8.   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

      Not Applicable


ITEM 9.   NOTICE OF DISSOLUTION OF GROUP

      Not Applicable


ITEM 10.  CERTIFICATION

By signing below, I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing  the control of the issuer of
the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.



ITEM 11.  MATERIALS TO BE FILED AS EXHIBITS

Exhibit 1        Joint Filing Agreement


CUSIP NO. 577776107              SCHEDULE 13G              PAGE 10 OF 11 PAGES


                                   SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I hereby
certify that the information  set forth in this statement is true, complete and
correct.

Dated:  July 3, 2013


                            WEISS ASSET MANAGEMENT LP


                            By:  /s/ Daniel Bradford
                            -----------------------------------
                            Daniel Bradford, General Counsel



                            BIP GP LLC


                            By:  /s/ Daniel Bradford
                            -----------------------------------
                            Daniel Bradford, General Counsel



                            WAM GP LLC


                            By:  /s/ Daniel Bradford
                            -----------------------------------
                            Daniel Bradford, General Counsel



                           ANDREW M. WEISS, PH.D.


                           By:  /s/ Daniel Bradford
                           -----------------------------------
                           Daniel Bradford, Attorney-in-Fact for Andrew Weiss


CUSIP NO. 577776107              SCHEDULE 13G              PAGE 11 OF 11 PAGES


                                 Exhibit 1

                             JOINT FILING AGREEMENT

       In  accordance  with  Rule  13d-1(k) under the Securities Exchange Act of
1934, as amended, Weiss Asset Management  LP,  BIP GP LLC, WAM GP LLC and Andrew
M.  Weiss, hereby agree to the joint filing on behalf  of  each  of  them  of  a
statement  on Schedule 13G and/or 13D (including any and all amendments thereto)
with respect  to  the  Common  Stock,  $0.0001  par value, of Maxygen, Inc., and
further agree that this Joint Filing Agreement, as  may  be amended from time to
time, shall be included as an Exhibit to such joint filings.

       The undersigned further agree that each party hereto  is  responsible for
the  timely  filing  of  such  Statement  on  Schedule  13G  and/or 13D and  any
amendments  thereto,  and  for the accuracy and completeness of the  information
concerning such party contained  therein;  provided,  however,  that no party is
responsible  for the accuracy or completeness of the information concerning  any
other party, unless  such  party  knows  or  has  reason  to  believe  that such
information is inaccurate.

       This  Joint Filing Agreement may be signed in counterparts with the  same
effect as if the signature on each counterpart were upon the same instrument.

       IN WITNESS  WHEREOF,  the  undersigned have executed this Agreement as of
July 3, 2013.



                          WEISS ASSET MANAGEMENT LP

                          By:  /s/ Daniel Bradford
                          -----------------------------------
                          Daniel Bradford, General Counsel


                          BIP GP LLC

                          By:  /s/ Daniel Bradford

                          -----------------------------------
                          Daniel Bradford, General Counsel


                          WAM GP LLC

                          By:  /s/ Daniel Bradford
                          -----------------------------------
                          Daniel Bradford, General Counsel


                          Andrew M. Weiss

                          By:  /s/ Daniel Bradford
                          -----------------------------------
                          Daniel Bradford, Attorney-in-Fact for Andrew M. Weiss

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